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Posted: Mon Jan 26, 2009 6:58 pm
by Fallenhero
Hi i being put forward for an IVA just need to send information...which i happy about...but i also been asked if i like an IVA payment protection..my question is..
1.Is this a new thing.....
2.Is it a good thing (great if my payment is protected)how much,cost is there to me for adding this..
3.Anyone added this to there IVA be nice to hear what they think about it...
Posted: Mon Jan 26, 2009 7:01 pm
by Kazz
Hi, good luck with the creditors meeting when you get there.
Payment Protection is a new thing a few companies are trying due to the new Protocol proposals which IVA company's are using at present. They give much flexibility if clients have a dramatic change in circumstances.
Check out all of the small print before signing anything and make sure you can afford any extra cost that this may incur.
Good luck
Posted: Mon Jan 26, 2009 7:28 pm
by kallis3
I recommend that you check out Coveritall's website (you can find his details under the experts link on the left hand side of the page).
He does a range of insurances, including IVA payment protection.
Posted: Mon Jan 26, 2009 8:16 pm
by Sensible77
Kazz, is it only available to people whose IVA's come under the new protocol?
Posted: Mon Jan 26, 2009 8:18 pm
by Kazz
Not as far as I am aware. It should be available to anybody
Posted: Mon Jan 26, 2009 11:30 pm
by lost
Its available to anyone i got mine added to my expenditure list at review time when i had a payrise as it benefits both party`s and no increases to the iva payments were made as this payment was taken into account.
Posted: Tue Jan 27, 2009 10:11 am
by Locko
My IVA was agreed in August 2008 with Payplan and the IVA protection was added in with the payments I make to creditors. For me it was worth it for piece of mind